The ongoing scrutiny of the Securities and Exchange Commission (SEC) has reached a new level, leading to a joint investigation initiated by several Republican lawmakers. This inquiry casts a shadow over the agency’s hiring practices and raises questions about its commitment to impartial regulatory oversight. On September 11, a letter from key committee leaders, including
Regulation
eToro, a prominent trading platform, has announced significant changes to its operations in the wake of a $1.5 million settlement with the U.S. Securities and Exchange Commission (SEC). This decision, which affects the availability of digital assets for U.S. customers, stems from the SEC’s investigation that uncovered eToro’s offering of crypto assets classified as securities
The Commodity Futures Trading Commission (CFTC) has recently taken a stand against the surge in crypto scams known as “pig butchering” by partnering with federal and private organizations. These scams have resulted in billions of dollars in losses due to a lack of awareness and understanding among consumers. The CFTC’s campaign focuses on arming consumers
The recent introduction of the Property (Digital Assets, etc.) Bill by the Law Commission of the United Kingdom (UK) Parliament marks a significant step towards recognizing digital assets as legal holdings. This proposed legislation aims to categorize crypto, non-fungible tokens (NFTs), and carbon credits as personal property under British law, a move that has never
The Digital Chamber (TDC) has recently urged Congress to pass legislation that would define certain non-fungible tokens (NFTs) as consumer goods rather than financial products. This move comes in response to the Securities and Exchange Commission’s (SEC) increased enforcement actions, including a Wells notice issued to NFT marketplace OpenSea. TDC argues that NFTs, particularly those
SEC Commissioner Hester Peirce has expressed ongoing concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). She raised these concerns following a speech by SEC Chief Accountant Paul Munter on September 9, where Munter reiterated the Commission’s stance on SAB 121. Despite the increasing attention the regulation has garnered, Munter emphasized that the
In 2024, the US Securities and Exchange Commission (SEC) made a significant impact on the crypto industry by imposing a record-breaking $4.68 billion in fines against various companies. This marked a drastic increase from previous years and signaled a new era of heightened regulatory scrutiny in the digital asset market. The SEC’s enforcement actions have
Robinhood Crypto, a division of the popular trading app Robinhood, recently came under fire for agreeing to pay a hefty $3.9 million fine to settle a California investigation. The investigation revealed a series of questionable practices that had been ongoing from 2018 to 2022. Perhaps the most concerning issue was Robinhood Crypto’s prevention of users
Recent news from the US Securities and Exchange Commission (SEC) sheds light on the importance of complying with investor protection regulations in the crypto industry. The SEC charged and settled with hedge fund Galois Capital Management LLC over a private fund managed by the firm that primarily invested in crypto assets. The charges stemmed from
US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda has recently raised concerns regarding the inadequacy of current S-1 registration forms for digital asset securities. During a speech at the Korea Blockchain Week 2024 event, Uyeda emphasized the importance of updating regulatory tools to address the unique features of digital assets. While the S-1
